Transcript: HHS Secretary Kathleen Sebelius and Mitt Romney

STEPHANOPOULOS: And how about you personally, looking back at your own campaign? And it certainly seems like you're keeping the option open to run again. Looking back at your last campaign, one of your top New Hampshire supporters, Tom Rath (ph), suggested to National Journal that your problem was you lost what was your strongest selling point, the ability to be the economy's Mr. Fix-it. Do you agree with that analysis? And do you think it's something you have to fix if you're going to run again?

ROMNEY: Well, you know what, there are a lot of times that I can sit back and look back to my last campaign and say, what could I have done better. And I'm sure Tom Rath makes a good point there. I wouldn't argue with him. There are a number of things I probably would have done differently if I had the chance to do it again. But that's not the way life works. You look forward.

STEPHANOPOULOS: OK.

ROMNEY: And I'm spending my time looking forward. I think it's critical at a time like this that we bring more balance to Washington. With an issue like health care on the docket, for instance. In Massachusetts, when we dealt with that issue, we spent two years, Republicans and Democrats, coming together. We got -- In the vote of the legislature, it was 198-2 to pass our plan. Senator Kennedy and I were there at the celebration of our plan. We did something on a deliberate and comprehensive basis that involved both parties.

We're not doing that in Washington. Republicans have been pushed aside. We need to see if we can't bring more balance to Washington. And I'm going to fight to do that in the coming year or two.

STEPHANOPOULOS: OK, Governor Romney, thanks a lot. We look forward to having you back.

ROMNEY: Thanks, George.

(BEGIN VIDEOTAPE)

DAVID LETTERMAN, HOST, CBS'S "THE LATE SHOW WITH DAVID LETTERMAN": An awkward moment for Sarah Palin at the Yankee game. During the seventh inning, her daughter was knocked up by Alex Rodriguez.

GOV. SARAH PALIN (R), ALASKA: Statutory rape is what this is, because a 14-year-old would not consent to being "knocked up," quote/unquote.

LETTERMAN: I would never, never make jokes about raping or having sex of any description with a 14-year-old girl.

PALIN: He doesn't have to apologize to me. I would like to see him apologize to young women across the country.

LETTERMAN: I think everything's going to be great, because she called today and invited to take me hunting.

(END VIDEOTAPE)

STEPHANOPOULOS: The Palin/Letterman feud. Neither side backed down. We'll get to that in a little bit.

First let me bring in our "Roundtable." We're joined, as always, by George Will; Kim Strassel, columnist with "The Wall Street Journal"; Wayne Johnson from "The National Journal"; and of course, Donna Brazile. We'll get to that later. Let's talk about the Iranian elections.

Let's just begin with health care. We saw that debate with Governor Romney and Secretary Sebelius, and the president trying to maintain this above the fray. He is laying out the principles that he wants. Doesn't want to lay down any bottom lines yet, even though he has preferences. Is that approach going to work?

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